Thanks to unusually heavy rainfall over the winter, our five-year drought here in California is now officially over, thank goodness. But it has left us with a deeply embedded water conservation mindset. We’re all much more conscious now of the need to conserve this precious resource. We’re aware of how even a small leak in a water system can add up over time to massive waste, so it’s important to fix quickly.

Besides, as we all know, nothing is more annoying than the steady drip, drip, drip of a leaky faucet!Revenue leakage is like that, for a lot of companies. They know it’s happening, and they know it’s wasteful. Missed opportunities for price increases, inability to track purchase commitments and discount expirations, loss of cost pass-through opportunities … it can all add up to serious revenue loss. And it doesn’t just waste present resources – it can impact the business’s future, too. In fact, in many big organizations, 80 percent of new business typically comes from existing clients and customers.

What makes revenue leaks particularly vexing and tricky to fix is the fact that they can’t be tracked to one system or process. They are due to data gaps in CRM, CPQ, ERP and billing systems across the customer lifecycle.